Jupiter Asset Management Ltd. Acquires 89,067 Shares of United Community Banks, Inc. $UCB
by Tristan Rich · The Markets DailyJupiter Asset Management Ltd. boosted its holdings in United Community Banks, Inc. (NYSE:UCB – Free Report) by 141.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,108 shares of the company’s stock after purchasing an additional 89,067 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.13% of United Community Banks worth $4,531,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of United Community Banks in the first quarter worth $26,000. Hantz Financial Services Inc. increased its holdings in United Community Banks by 213.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,048 shares of the company’s stock valued at $31,000 after acquiring an additional 714 shares during the last quarter. CWM LLC purchased a new stake in United Community Banks in the 1st quarter worth $62,000. Geneos Wealth Management Inc. purchased a new stake in United Community Banks in the 1st quarter worth $67,000. Finally, Allworth Financial LP boosted its holdings in shares of United Community Banks by 13,585.0% during the 2nd quarter. Allworth Financial LP now owns 2,737 shares of the company’s stock valued at $82,000 after purchasing an additional 2,717 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on UCB shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Community Banks in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on United Community Banks from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Wall Street Zen raised United Community Banks from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. DA Davidson increased their target price on United Community Banks from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Hovde Group boosted their price target on shares of United Community Banks from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, United Community Banks presently has a consensus rating of “Hold” and an average target price of $35.33.
View Our Latest Research Report on United Community Banks
Insider Buying and Selling at United Community Banks
In other news, EVP Richard Bradshaw sold 1,654 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $30.23, for a total value of $50,000.42. Following the sale, the executive vice president owned 75,226 shares of the company’s stock, valued at approximately $2,274,081.98. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.
United Community Banks Price Performance
Shares of UCB stock opened at $29.96 on Friday. The stock has a market capitalization of $3.64 billion, a P/E ratio of 11.89 and a beta of 0.91. United Community Banks, Inc. has a 1 year low of $22.93 and a 1 year high of $35.38. The company’s 50 day moving average is $30.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.80.
United Community Banks (NYSE:UCB – Get Free Report) last released its earnings results on Wednesday, October 22nd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. United Community Banks had a return on equity of 9.42% and a net margin of 20.67%.The firm had revenue of $276.85 million for the quarter, compared to the consensus estimate of $270.85 million. During the same quarter in the previous year, the company posted $0.57 EPS. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year.
United Community Banks Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. United Community Banks’s payout ratio is 39.68%.
United Community Banks Profile
United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. The company accepts various deposit products, including checking, savings, money market, and other deposit accounts.
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